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Support at Fed for Slow Stimulus Cuts
The New York Times: WASHINGTON — The Federal Reserve’s decision in December to taper its bond-buying campaign reflected increased confidence in the economy and continued uneasiness about the stimulus effort, according to an official account of the December meeting.
The retreat, however, is likely to proceed slowly. The account, published on Wednesday, said most Fed officials still regarded the monthly purchases of Treasury and mortgage-backed securities as effective in stimulating job growth. With unemployment still widespread, it said they saw little justification for completing the retreat from bond buying “now or relatively soon.”
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